China Zheshang Bank gains approval for related-party transactions
** China Zheshang Bank (CZBank) [SSE:601916] announced that its board greenlit several related-party transaction proposals during its seventh session's fourth meeting, solidifying its business relationships with significant shareholders while adhering to regulatory requirements. These transactions involve extending credit facilities to entities such as Zhejiang Financial Holdings, Zhejiang Energy Group, and Hengdian Group, with credit lines ranging from CNY780 million to CNY14.136 billion. Additionally, the board approved a set amount for future deposit-related transactions, with strict parameters in place to ensure fair market value. The audit committee confirmed the bank's 2024 financials and its internal controls audit, conducted by PricewaterhouseCoopers, while expressing no objections. The board also formally instated key personnel changes, including the appointment of various senior executives and committee members, further refining the bank's leadership structure. Details of CZBank's corporate governance practices and shareholder interactions remain accessible on the SSE and HKEX websites.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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